media consolidation

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One day after withdrawing their offer to buy Time Warner, Rupert Murdoch and top deputy Chase Carey made clear they have moved on from the deal. In making those comments, which came as Fox reported fiscal fourth quarter 2014 earnings, the company puts the pressure squarely on Time Warner CEO Jeff Bewkes to perform.

Jeff Bewkes doesn’t like big media mergers, but that doesn’t mean he won’t make a good deal, from Rupert Murdoch or another bidder. He’ll do whatever creates the most value for shareholders, and now that most likely means selling.